Financial Management Part 1: Christmas budgets

How prepared are you for Christmas? A Christmas savings account? Did you set aside money all year? Was Christmas part of your budget? Will you be paying cash for the big ticket items you'll be purchasing?
How prepared are you for Christmas? A Christmas savings account? Did you set aside money all year? Was Christmas part of your budget? Will you be paying cash for the big ticket items you'll be purchasing?

Let's take a moment to reflect as we enter the holiday season. Christmas is the most celebrated holiday for most people. Sharing our love and giving the ones we love everything they've asked for. It comes the same time every year and yet a lot of people are not prepared.

Most people will spend money they do not have whether they are prepared or not. They do it this way every year, never learning that things would be easier if they had incorporated just a little financial planning. You could have $2,080 to spend if you had saved $40 per week. You could give that new laptop or computer without going into debt or using plastic money.

Setting up a budget is the smartest and wisest financial planning tool a family can use. It defines how much can be spent for allowance, food, gifts, clothes and other major household bills. This is good management.

Budgeting allows you to become better planners, because you will think about your needs ahead of time. You will learn discipline. You will achieve more goals after implementing budgets.

During the next few weeks, I'll be writing more articles on budgeting. Be sure to read and implement them. Changing your habits will make your financial dreams become a reality.

This represents basic fundamental information you should know. Learn how to actively manage your accounts. All graduating seniors entering the work force need this book. Books can be purchased today at Amazon.com. Website: www.jab401k.com.